Amgen Q1 2024 revenue up 22% to $7.4B; GAAP EPS loss of $0.21 on BeiGene mark-to-market loss

AMGEN INC

2024-Q1 EPS reported -$0.21 revenue$7,447,000,000

Total revenue $7.4B (+22% YoY); product sales grew 22% driven by 25% volume growth; Horizon contributed $914M.
GAAP EPS loss of $0.21 vs $5.28 gain YoY, driven by mark-to-market loss on BeiGene equity investment.
Non-GAAP EPS $3.96 (-1% YoY); non-GAAP operating income $3.1B (+11% from $2.8B).
Ten products delivered double-digit volume growth including Repatha, TEZSPIRE, EVENITY, BLINCYTO, TAVNEOS.
Free cash flow $0.5B vs $0.7B; decrease from $800M tax deposit partially offset by working capital timing.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.92

AMGEN INC reported first quarter 2024 results: revenue $7.4 billion, EPS $3.96.

Period: first quarter 2024
Revenue: $7.4 billion
EPS: $3.96
Result: reported results

Exact text from the filing

For the first quarter, total revenues increased 22% to $7.4 billion in comparison to the first quarter of 2023.

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Source: SEC EDGAR

accession 0000318154-24-000018

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